Earlier today we discussed Neel Kashkari’s weight problem (he’s determined to lose the 20 pounds he gained while working for the Treasury). We thought it seemed a bit extreme that he would, by his own admission, skip dinner many nights in order to reach his target, but now it’s all become clear. He’s on a deadline to look good in a bathing suit, having taken a gig with PIMCO in Newport Beach. Here’s the full letter from Bill Gross and and Mohamed El-Erian to clients (courtesty of a Dealbreaker Commenter):
December 7, 2009
To our valued clients:
As we come to the end of 2009, we would like to thank you for your continued confidence in PIMCO and share with you some thoughts on the future evolution of our firm.
Over the last couple of years, we have undertaken significant work on the emergence of what we have called the “new normal” for the global economy, and for financed-based economies in particular (including the US). We have also derived implications for our investment strategies, now and going forward.
